A Simple Test for Specification Error
We propose a test which could be widely applied to determine to adequacy of model which approximate unknown functional forms. As an illustration, the translog system of budget-share equations is rejected as an approximate specification using Christensen, Jorgenson and Lau's (1975) data.
Year of publication: |
1986
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Authors: | Nicol, Christopher J. |
Institutions: | Economics Department, Queen's University |
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